business setup - Posted by jim

Posted by Don-NY on February 06, 2009 at 03:55:01:

Jim, It depends on your tolerance for risk. I would not set up an LLC for each home. Maybe one for all your deals. We did not have an LLC until we bought property. Do a few deals, decide if it is for you. Then think about an entity.

business setup - Posted by jim

Posted by jim on February 05, 2009 at 08:47:43:

Question for the people who do lonnie deals full time, do you setup each home you purchase (and sell later) as a LLC, to minimize risk?

Is there another way to setup the deal, I’m asking because I’m working on my first deal and want to shield myself properly. Thanks